4. Martha Higgins is currently trying to borrow some money from the bank. She has listed her personal automobile ($25 000) on the business balance sheet to make the statement look more attractive to the banker. a. Is this a reasonable thing to do? b. Which GAAP(s) affect this situation? Explain.

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A: As per dual concept, every transaction has dual effect on the books of accounts. Total assets is the…

Q: What is confidentiality? Give an example showing a violation of confidentiality.

A: Confidentiality is one of code of ethics for Auditor.

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A: This is used to put a present value on costs and benefits that will occur at a later date. In the…

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A: The answer:

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A: In the world of finance over trading is an important concept for businesses.

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A: The usage of of faulty or invalid reasoning that is used by an individual in the process of…

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A: Auditing is the examination of the financial reports of the company to ascertain reasonable…

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A: Financial statement: Financial information is a written record of an organization and individual…

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A: 1. Independence: We assume that the observations are independent of each other. To test this…

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A: The objective of financial reporting is true and fair reporting of financial statements.

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A: Accounting information is information related to financial statements like income statement, balance…

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Q: What is Overt Discrimination?

A: Overt discrimination is an explicit display of unequal treatment given to a certain individual or…

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A: The contract is an agreement forming a relationship between two parties in such a way that if any of…

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A: In general audit option can be of two major types . They are  a) Unmodified b) Modified Opinion…

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A: Larceny is a legal term that refers to the unlawful taking of someone else's personal property with…

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A: ADR stands for Alternative Dispute Resolution, which refers to a set of processes and techniques…

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A: Proper sentence has to be formed by filling in the missing information.